Manufacturers of colour TVs in the country predict that the market for colour TVs will grow from the present 5.3 million sets per annum to almost 20 million in the next three years.
According to the industry sources, the 55 million black and white television users are expected to start converting to colour TVs within two years, when the price differential between a black and white TV and a 14-inch or 20-inch colour TV will become negligible.
The new transmission technology and high-quality entertainment software are likely to lure more consumers to colour TVs. Add to this, the advent of digital transmission and DTH broadcasting.
According to industry analysts, China sells 30 million CTV units per annum. In three years the Indian colour TV industry will be able to sell 20 million units per annum. It is expected that 5 million black and white TVs sold will completely convert to colour TVs by 2004. Seven million old-technology colour TV owners will also convert.
The optimism contradicts the findings of a study by Francis Kanoi Marketing Research, commissioned by the Consumer Electronics and TV Manufacturers Association (Cetma) last year. The research firm said by 2005, colour TV volumes would be close to 10 million units.
The association is optimistic about the current year because there are signs of a pick-up in the economy. Consumer spending is likely to increase with growing disposable income.
With the football and cricket World Cups coming up, sales of colour TVs are expected to boom. Prices, which fell 15-20 per cent last year, would decline another 10 per cent, according to industry sources.
Source: Business Standard